Even in a weak market, Vijay Kedia’s portfolio stock, Siyaram Silk Mills, jumped 14% on Friday, reaching a new high of ₹937.85. This rise was driven by the company’s launch of Cadini Italy Perfumes. Meanwhile, the BSE Sensex was down by 0.64%, trading at 80,771.
Vijay Kedia’s Investment Siyaram Silk Mills
Renowned investor Vijay Kishanlal Kedia holds a 1% stake (4,55,000 shares) in Siyaram Silk Mills, as per the shareholding pattern on September 30, 2024.
Launch of Cadini Italy Perfumes
The company introduced four unique fragrances of Cadini Italy Perfumes to the Indian market:
- Leonardo’s Secret
- Italian Renaissance
- Roman Affair
- Sicilian Romance
These perfumes are available in 100 ML, 35 ML, and 2 ML variants. They are crafted from natural notes, making each spray a delightful experience. These perfumes are now available online, and customers can purchase them through the company’s website and social media channels.
Siyaram Silk Mills: Brand Identity
Siyaram Silk Mills is a well-known textile company in India, famous for its high-quality fabrics, ready-made garments, and other textile products. The company’s popular brands include:
- Siyaram
- J. Hampstead
- Oxemberg
- Cadini
The company also operates a chain of retail stores selling menswear fashion, fabrics, apparel, and accessories.
Siyaram Silk Mills Share Growth: 101% in 10 Weeks
From October 4, 2024, to now, Siyaram Silk Mills’ shares have surged by 101%. This growth is due to better financial performance and increased domestic demand during the festive season.
- Market Cap: ₹ 4,397 Cr
- Current Price: ₹ 969
- High / Low: ₹ 986 / 410
- Stock P/E: 22.7
- Dividend Yield: 1.14 %
Read Also: Top 5 Stocks of Vijay Kedia Portfolio: 214% Returns in 2024
Financial Performance (Q2FY25)
- Revenue from Operations: ₹607 crore (up from ₹585 crore in Q2FY24)
- Profit After Tax: ₹68 crore (an 11% increase)
- EBITDA: ₹110 crore (a 10% increase), with EBITDA margin rising from 16.7% to 17.5%
Expansion Plans of Siyaram Silk Mills
To capitalize on the festive season and rising demand, the company plans to open around 30 new retail stores by March 2025.
- ZECODE (Fast Fashion Outlets): Will offer trendy and affordable clothing for urban customers.
- DEVO (Ethnic Outlets): Will feature a wide range of ethnic wear showcasing the country’s cultural heritage and style.
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Future Plan of Siyaram Silk Mills
The company management is confident about strong performance in the remaining part of the financial year. Increasing consumer demand, the festive season, and favorable market conditions will drive long-term success.